Well, you’re in for a treat because the article below will answer the above questions in detail!

The idea behind crowdlending is to take the traditional banker out of the equation. So instead of having one financial institution loan you the money, you get dozens of average people to lend you smaller amounts. For example, let’s suppose you need $10,000. You may have 100 people loaning you $100. (More likely you’d have some people loaning you as little as $25, while others loaned you $1000 or more. But the point is, a lot of people will loan you money, rather than just one institution.) Just like a bank, you still have to pay interest and fees. However, in some cases, the interest and fees may be lower than what you’d get through a bank. To find out if that’s the case for you, check out these popular crowdlending sites:

LendingClub: This is currently the biggest and one of the most well-known crowdlending sites.

UpStart.com: Their motto is that you’re more than a credit score, which is why they take your education and other information into consideration before extending a loan.

Kiva.org: If you live in a developing nation, then you may want to check out this non-profit organization.

TIP: This is different than crowdfunding, which is where dozens of people all give you small amounts of money to fund your business idea in exchange for rewards. We’ll talk about that slick strategy on this page. You can find out more about crowdfunding on here. Now the next idea… Tap Friends and Family Going around to your friends and family with your hat in hand isn’t exactly your idea of a fun way to spend an afternoon, right? But it is a good way to fund your business. Here’s the key… Don’t ask for one large loan from one friend or family member. Instead, use the crowdlending model and ask for smaller loans from many people. That way, there isn’t much risk to any particular person, yet you get the cash you need.TIP: If you go this route, you may set up a crowdlending account at a site like LendingClub.com and ask your friends and family to contribute that way.

The easiest way to get attention from people is to post on social media. You can post on the Facebook wall, Facebook groups, Twitter and Google plus communities.

You can create a small video and post on the youtube. You can make this video by yourself or hire someone from Fiverr. You can send this simple video to your friends and relative’s email accounts. You can post this video on Facebook also to get viral traffic. This is the win-win situation, so it’s the nice way to get significant cash flow to your business.

The advantage is that everything is legal and they’ll get paid interest on whatever amount they lend, plus strangers on the site can make up the difference. You’ll be spending more fees, but some friends and family may be more comfortable using this formal route.

Asking one person the significant amount is a little scary and painful. Instead of asking a small amount from friends and family is much more comfortable and straightforward process. Besides, everything is legal, and people can keep an eye on this officially which will increase their trust and overall participation.